|
AfriTin Mining Ltd - technology metals mining company focused on Namibia - Posts revenue of £13.6 million for the year to February 28, up significantly from £5.0 million the year before. Swings to pretax profit of £389,798 from a loss of £5.8 million. Says average tin price achieved for the year was $38,680 per tonne, compared to $22,150 per tonne the year before. Annual tin concentrate production increased 70% to 804 tonnes from 473 tonnes the year before following the ramp-up and expansion initiatives, AfriTin adds.
Chief Executive Officer Anthony Viljoen says: ‘I am pleased to report another year of strong operational delivery that has seen AfriTin significantly increase production and generate its first group-wide profit. Our production at Uis has exceeded nameplate capacity by 12% which is a testament to the operational excellence we have instilled in Namibia and puts the company in a good position to deliver our forthcoming further expansion initiatives.’
Current stock price: 5.12 pence, down 2.5%
12-month change: down 8.6%
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
